Amundi Has $150,000 Stock Holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Amundi trimmed its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 22.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,762 shares of the company’s stock after selling 7,722 shares during the period. Amundi’s holdings in Melco Resorts & Entertainment were worth $150,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in shares of Melco Resorts & Entertainment by 57.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 655,572 shares of the company’s stock worth $5,107,000 after buying an additional 238,884 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Melco Resorts & Entertainment by 124.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 239,868 shares of the company’s stock worth $1,869,000 after buying an additional 133,086 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in Melco Resorts & Entertainment in the 3rd quarter valued at about $720,000. ARGA Investment Management LP lifted its stake in Melco Resorts & Entertainment by 1.6% in the 4th quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company’s stock valued at $171,688,000 after purchasing an additional 456,117 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Melco Resorts & Entertainment in the 3rd quarter valued at about $858,000. 39.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MLCO shares. Susquehanna cut their target price on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating for the company in a research note on Monday, February 3rd. Citigroup downgraded shares of Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating and cut their target price for the company from $10.00 to $6.00 in a research note on Monday, February 10th. Finally, Morgan Stanley upgraded shares of Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $7.50 to $6.70 in a research note on Monday, March 3rd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $7.24.

Melco Resorts & Entertainment Stock Down 0.7 %

Shares of MLCO stock opened at $5.54 on Friday. The firm has a 50 day moving average price of $5.68 and a two-hundred day moving average price of $6.19. The company has a market capitalization of $2.33 billion, a PE ratio of -25.18, a price-to-earnings-growth ratio of 0.63 and a beta of 1.02. Melco Resorts & Entertainment Limited has a 12-month low of $4.78 and a 12-month high of $8.90.

Melco Resorts & Entertainment Profile

Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns, and operates casino gaming and entertainment casino resort facilities in Asia. It owns and operates City of Dreams, an integrated casino resort that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage performance theater with approximately 2,000 seats; approximately 30 restaurants and bars, and 150 retail outlets; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spa and salons, and banquet and meeting facilities.